U.S. President Donald Trump has handed Huawei a lifeline after he said that U.S. companies are permitted to sell goods to the embattled Chinese tech firm following more than a month of uncertainty.
It’s been a pretty dismal past month for Huawei since the American government added it and 70 of its affiliates to an “entity list” which forbids U.S. companies from doing business with it. The ramifications of the move were huge across Huawei’s networking and consumer devices businesses. A range of chip companies reportedly forced to sever ties while Google, which provides Android for Huawei devices, also froze its relationship. Speaking this month.
All told, Huawei founder and chief executive Ren Zhengfei said recently that the ban would cost the Chinese tech firm — the world’s third-larger seller of smartphones — some $30 billion in lost revenue of the next two years.
Now, however, the Trump administration has provided a reprieve, at least based on the President’s comments following a meeting with Chinese premier Xi Jinping at the G20 summit this weekend.
“US companies can sell their equipment to Huawei. We’re talking about equipment where there’s no…
http://feedproxy.google.com/~r/Techcrunch/~3/4U_ckHq8-WI/